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A project has an expected cash flow of $1.5 million one year from now. If the expected return of the market portfolio is 12 per

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A project has an expected cash flow of $1.5 million one year from now. If the expected return of the market portfolio is 12 per cent, the risk-free rate is 6 per cent, correlation between this future cash flow and the return on the market is 0.75, what is the present value of the cash flow

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